Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Please help!! Thank you Ill give a thumbs up!! The following financial information is for Blossom Company. Liabilities and Stockholders' Equity Notes payable Accounts payable

Please help!! Thank you Ill give a thumbs up!!
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The following financial information is for Blossom Company. Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities $169,00064,00039,000$101,00050,00039,000 Bonds payable, due 2025 249,000169,000 Common stock, $10 par 198,000198,000 Retained earnings 142,000131,000 Total liabilities and stockholders' equity \$861,000 \$688,000 Additional information: 1. Inventory at the beginning of 2021 was $115,000. 2. Accounts receivable (net) at the beginning of 2021 were $88,000. 3. Total assets at the beginning of 2021 were $630,000. 4. No common stock transactions occurred during 2021 or 2022. 5. All sales were on account. Compute the liquidity and profitability ratios of Blossom Company for 2021 and 2022. (Round Curent ratio, Asset turnover and Earnings per share to 2 decimal places, es. 15.50 and round all other answers to 1 decimal place, e.g. 15.5. Round % change to 0 decimal places, for eg. 1% and if % change is a decrease show the numbers as negative, eg. 1% or (1\%).) 2021 \% Change PROFITABILITY Profit margin Return on assets 6.5% 7.1 % 8.4 Earnings per share 2.53 $ 2.37 6.7 Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2022, and (2) as of December 31, 2023, after giving effect to the situation. (Round Debt to assets ratio to 0 decimal places, eg. 15 and round all other answers to 1 decimal place, eg. 15.5. Round % change to 0 decimal places, for eg. 1% and if % change is a decrease show the numbers as negative, eg. - 1% or (1\%).)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

What is the specific purpose of an acceptable use policy?

Answered: 1 week ago